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Year Zero

by Victor Davis Hansonvia National Review
Tuesday, July 7, 2020

Every cultural revolution starts at year zero, whether explicitly or implicitly. The French Revolution recalibrated the calendar to begin anew, and the genocidal Pol Pot declared his own Cambodian revolutionary ascension as the beginning of time.

Analysis and Commentary

A Little Financial-Econometric History

by John H. Cochranevia The Grumpy Economist
Monday, July 6, 2020

The issues that have cropped up in applying present value ideas to government finance, in my last post, caused me to write up a little financial-econometric history, which seems worth passing on to blog readers. The lessons of the 1980s and 1990s are fading with time, and we should avoid having to re-learn such hard-won lessons. (Warning: this post uses mathjax to display equations.)

In the News

A Cold War With China?

quoting Niall Fergusonvia Powerline
Monday, July 6, 2020

Niall Ferguson writes about the emerging Cold War between the U.S. and China. Ferguson calls this Cold War both inevitable and desirable. It’s desirable because, among other things, “it has jolted the U.S. out of complacency and into an earnest effort not to be surpassed by China in artificial intelligence, quantum computing and other strategically crucial technologies.”

In the News

If SA’s Serious About Changing Course It Must Adopt Sowell’s Ideas Of Freedom

featuring Thomas Sowellvia City Press
Monday, July 6, 2020

On June 30, one of the greatest men in the history of classical liberalism celebrated his 90th birthday. Thomas Sowell stands as one of the greatest thinkers in the tradition of individual rights and economic freedom, of pushing back against the ever-controlling grasp of a stifling central government. Given South Africa is in the midst of the Covid-19 lockdown, with little hope of where we can turn for growth in the future, there is no better time than now to discover the works of Sowell, and advocate for the ideas he holds.

Analysis and Commentary

The Surplus Process

by John H. Cochranevia The Grumpy Economist
Monday, July 6, 2020

How should we model surpluses and deficits? In finishing up a recent article and chapter 5 and 6 of a Fiscal Theory of the Price Level update, a bunch of observations coalesced that are worth passing on in blog post form.

In the News

What COVID-19 Means For Financial Globalisation

quoting Charles Calomirisvia World Finance
Monday, July 6, 2020

The COVID-19 pandemic may reinforce segmentation in world markets, exacerbating a trend that has been gathering pace since the financial crisis.

In the News

Editorial: ‘I Think We Have To Look At The Data’ On Virus Surge

quoting Scott W. Atlasvia Las Vegas Review Journal
Monday, July 6, 2020

As coronavirus cases surge in Nevada and elsewhere, it is significant that a concurrent increase in deaths has not yet followed. This reality too often gets lost amid the seemingly daily drumbeat of gloom and doom. Yet it is vital to accurately assessing the pandemic.

Analysis and Commentary

The Mob Lost And The System Won

by David R. Hendersonvia EconLog
Monday, July 6, 2020

On June 12, I posted briefly about the efforts of Justin Wolfers and other economists to get Harald Uhlig fired from his position as editor of the Journal of Political Economy.

Featured

The North American Trade Dividend

by H. R. McMaster, Pablo Tortolerovia The Wall Street Journal
Monday, July 6, 2020

The revised U.S.-Mexico-Canada pact will help post-Covid recovery and lure jobs back from China.

In the News

Trump's Payroll Tax Cut Boosts Blacks 'Most,' Could Add 2M-3M Jobs: Analysis

quoting Casey B. Mulliganvia The Washington Examiner
Monday, July 6, 2020

Black workers, the economy, and the jobless would benefit from President Trump’s proposed payroll tax cut, part of the negotiations for a new coronavirus stimulus package, according to an anti-tax group. In a new report provided to Secrets, the Committee to Unleash Prosperity said that Trump’s No. 1 goal of cutting taxes will help African Americans “disproportionately” because they pay more in paycheck taxes, according to studies.

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